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    • Delayed Prices (USD) - Last Updated 20-09-2021
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    BHP ditches FTSE 100, sets sail for Sydney

    BHP (ASX:BHP) has announced that it plans to unify its dual-listed corporate structure under its existing Australian entity, effectively removing its participation in the FTSE 100. The miner entered the LSE in 2001 following a merger with South African group Billiton.

    The unification, which is subject to a series of approvals, is expected to take place in H1 2022, in advance of the planned merger of oil & gas assets with Woodside Petroleum.

    “BHP will be simpler and more efficient, with greater flexibility to shape our portfolio for the future”

    The company plans to have a primary listing on the ASX, while retaining a standard listing on the LSE, a secondary listing on the JSE, and a sponsored Level II ADR program on the NYSE. The move is aimed at driving “simplicity and flexibility” by streamlining governance and internal processes, and is also expected the simplify the Woodside transaction.

    Company chair Ken MacKenzie said: “Now is the right time to unify BHP’s corporate structure. BHP will be simpler and more efficient, with greater flexibility to shape our portfolio for the future. Our plans announced today will better enable BHP to pursue opportunities in new and existing markets and create value and returns over generations.”

    BHP reports that the unification is expected to cost in the vicinity of USD$400-$500 million.

    Jonathan Norris
    Jonathan is a founder of Mining.com.au and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.

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    • Delayed Prices (USD) - Last Updated 20-09-2021
    • Gold $1,753.80
    • Silver $22.36
    • Platinum $934.00
    • Palladium $1,950.00
    • Dalian Iron Ore i2201 $97.28
    • Aluminium $2,885.50
    • Cobalt $53,380.00
    • Copper $9,312.00
    • Lead $2,181.00
    • Nickel $19,358.00
    • Tin $34,140.00
    • Zinc $3,088.00